The Indian market is likely to open higher Tuesday following gains in Asian peers as investors continue to monitor developments over coronavirus vaccine. At 8:00 am, the SGX Nifty was trading 67.00 points or 0.60 percent higher at 11,185.50, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Tech Mahindra: The company reported a net profit of Rs 972.3 crore in Q1FY21, a rise of 20.9 percent from Rs 803.9 crore in the previous quarter. Revenue was down 4 percent to Rs 9,106.3 crore from Rs 9,490.2 crore, QoQ. Revenue in dollar terms fell 6.7 percent to $1,207.5 million from $1,294.6 million, on a sequential basis.
2. Bharti Infratel: The company reported 8.3 percent rise in Q1FY21 net profit to Rs 703.6 crore as against Rs 649.5 crore in the previous quarter. Revenue dropped 3.3 percent to Rs 3,504.7 crore from Rs 3,624.4 crore, QoQ. EBIT increased 5 percent to Rs 1,807 crore while EBIT margin improved by 410 bps to 51.6 percent, QoQ.
3. ITC: The company has acquired 100 percent equity share capital of Sunrise Foods Private Ltd in an all-cash deal valued at Rs 2,150 crore.
4. InterGlobe Aviation: IndiGo will implement steeper pay cuts from September with CEO Ronojoy Dutta’s salary reducing by 35 percent, sources told CNBC-TV18. This will be the second round of pay cut by the airline as the travel industry remains affected due to the coronavirus pandemic that refuses to die down.
5. Mahindra & Mahindra Financial Services: The company’s rights issue of Rs 3,088.8 crore will open on July 28, with a price at Rs 50 per share.
6. Pfizer: The company’s net profit in Q1FY21 rose 10.3 percent to Rs 124.5 crore from Rs 112.8 crore while revenue declined 5.4 percent to Rs 514.9 crore from Rs 544.4 crore, YoY.
7. NBCC India: The company has received orders worth Rs 204 crore.
8. United Spirits: The company reported Q1FY21 net loss at Rs 241.5 crore versus profit at Rs 202.1 crore and revenue at Rs 3,820.7 crore versus Rs 7,292.5 crore, YoY.
9. Kirloskar Electric Company: The company’s units at Hirehalli (unit-7) and Budihyal (unit-15) have extended partial lay off its workmen for a further period of 30 days.
10. CARE Ratings: SEBI has imposed a penalty of Rs 1 crore on CARE Ratings in connection with lapses in assigning credit rating to non-convertible debentures of Reliance Communications (RCom).